There are other names given to "back-end"selling. You may think of it as
follow through… or maybe VALUE added. All are good terms. Let’s see
how you can profit from this idea.
For our purpose today… let’s just FOCUS on the benefit of back-end selling.
Its simplest meaning is…. the SELLING you do AFTER the first sale.
Your profits come mainly from repeat business rather than from the initial
(first order) sale of your service or product.
Your greatest COST (accumulated expenses) is in the FIRST sale.
Not always, I know! Let’s just believe it will be in most cases. How long
did you have to work before that first sale? Did it take you five minutes
or five years? All the time this customer was NOT buying from you there
was still the overhead to pay.
Obviously, some high-ticket items can absorb the cost and still be
profitable.
You only need the one sale from a customer. However, we could probably
agree that most items that we sell or buy are of a more moderate $$$ value.
Meaning the profit return comes from the repeat customer.
Have you ever known a razor company to give away the razor? Why?
The profit is in the blades! It’s happening today on the Internet.
Computers are getting cheaper and cheaper. Even free when you sign
up for a service. Sometimes a company will giveaway or "loan"
a machine to a customer because the profit is in the supplies.
This is known as "back-end" selling.
You have the challenge to find your "back-end"! How can you make
more sales to the same customer? Sell more of the same product?
Service? Can you offer an add-on? Related items? It can even be
something entirely different. Put another way, just keep selling
"something"
to the same customer. Your best source of new or continuing revenue.
Many firms stop with the one (1st) sale and never realize the added
profits they are leaving behind. YOU would never let this happen.
On the other hand, maybe it would just be a good exercise for all
of us…. to ASK yourself…. am I selling everything I possibly can to
ALL of my current customers? Hits hard, doesn’t it?
Think about it! You have been successful in making that first sale.
Why? Our basic assumption is that you have earned their confidence.
Trust. You have lived up to your promises. Your product or service
has met or exceeded their expectation. It’s only natural to believe
that you will live up to this same level of competence in the future.
Search for your USP… Unique Selling Proposition. What is it that
makes YOUR firm stand out from the pack? Are you REALLY any different?
Do you offer something special that only YOU can provide? This is
what separates the great businesses from the also ran. You have
to be unique. Different! A visionary. Added VALUE is every
customer’s expectation today.
Your next challenge is to find as many "back-end" products / services
as you can. There is no better customer than one who has already
done business with you. YOUR greatest business asset is your
customer… without him/her…there is no business.
ACTION TIP: Treat your customer as someone SPECIAL. Look for new
products to compliment your first sale. Separate yourself and your firm
from the ordinary. Be an important source of information. Make
suggestions.
Offer to help. Work hard at keeping every customer. Your most valuable
business asset.
About the Author
Don Monteith
DonMonteith@Ezine-Traffic.com
Tel: (704) 392-6634